First Internet Reliable (FIR) Bank Case Study

Now let’s apply what we’ve read this week. Before the end of the week, please read Case 1 – First Internet Reliable Bank, pgs. 144-146, and answer the questions. Write a succinct response by answering each question of the reading in the context of your case study. Please prepare this assignment using the Microsoft Word application. Reference: Evans, J.R., & Lindsay, W.M. (2014). Managing for quality and performance excellence. (9th ed.). Cengage Learning

Even though the complete survey is not included in the case, summarize how the closed-ended and open-ended questions provided valuable customer insight for FIR.

What customer segments are targeted by FIR? On what issues should FIR focus in order to build relationships with its varied customer segments?

Can you recommend specific activities and practices in which they might engage in order to improve customer service quality and retain customers such as respondents 3 and 137?

The customer insight from the survey for FIR includes:

Convenient business attributes: Customer service was a key point for the bank’s interaction with its customers and customer service representatives (CSR’s) were available on call, had a quick turnaround time in resolving problems and quality was consistent. Online banking is convenient to use as it is available anytime, easy to check balances and pay bills from FIR online account while also transferring money electronically (Evans and Lindsay, 2014).

Customer segments targeted by FIR included people who were innovation-minded, busy while also they were technologically advanced. From the study they mostly had fast home internet connections (broadband and dial-up), were within the rising Gen X demography (compared to Gen Y) and there was a gender orientation (more male than women). Most were in the higher socioeconomic status making more profits, but even more middle-income earners were beginning to register (Evans and Lindsay, 2014).

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